So, the Corona is taking the biggest hit on Commercial Property Owners this lockdown, isn’t it? How can one escape from this? Nobody might help you with an escape plan right now, but we sure as a Property Management Company can help you with the concerns of a Commercial Property Owner during this tough time.
It may also further slowdown the commercial property deals because no one is aware of the economical situation now and one bad decision can completely destroy everything. But Property Management Companies are focusing on upscaling the commercial property sector.
The novel coronavirus came from nowhere and now the entire real estate industry is collapsed. Also, to state this point here, not only did the commercial property owners or landlords face this problem, even the tenants of the commercial property segments are equally crushed.
Who has their office premises open? It went on to 21-day lockdown and bam!! 3 months later the lockdown is still there. Still, in loss of words, I must say.
Even if the office premises are locked down, the tenants are still expected to pay their rents off. Some offices start to become tight, to begin with, the rent of the place that is still closed, salaries of the employees, and much more!
To comply with the other lease agreements does seem to have put pressure on the renters.
However, some of the concerts are allowed to have their business open but there is still revenue loss. That’s why they say, rope up a Commercial Property Management Company with you to deal with all these.
How are the tenants and the landlords taking it?
Well, the landlords and the tenants have a lot of things going on right now but as of now, the main thing would be the rent. Some tenants have asked the landlords to give them time until the situations resume, some have asked them to waiver off the rent entirely until the pandemic ends, and some may have approached but still asked to pay the rent every month. If you are a commercial property landlord and if you do have a Property Management Company to take care of your property during the toughest times like these, man, you are blessed.
Also, we would like to interest you in a piece of advice, being a landlord or someone who finds it difficult to manage the properties, be it commercial or residential, you can contact the best Property Management Company in Bangalore, you will not regret this decision later.
I might as well mention the top 10 concerns of the commercial property Landlords during this market slowdown,
Top 10 Concers Of The Commercial Property Landlords During This Market Slowdown
This covid19 is taking a toll on everyone and everyone’s business. In just weeks, so many people have lost a fortune and some of their lives turned upside down. Property Management Consultants from Property Management Companies in Bangalore are trying their best to get the property owners out of this crisis.
So, here I will state some of the top 10 concerns of the commercial property owners during this coronavirus outbreak.
- Be alert while lending
- Liquidity Management is real
- The leasing volume speaks for itself
- Investment planning
- Support of the tenants
- Cutting out operational costs
- E-commerce is pushing its way through the door
- Rent Adjusting and accepting
- Plans for disaster recovery
- Lease issues!
The concerns are true! So very true! Need to get this straight. We’ll see how it goes to get a brief about how it works,
1. Be alert while lending
Surprisingly, lending has been going steady now. However, Lenders are mainly focused on rising unemployment and a potential recession will make the loan defaults soaring. However, the market is still open, but the lending is happening with so much cautiousness because of the risk that’s prevailing.
2. Liquidity Management is real
Few landlords face liquidity management issues because of the rents that are coming in slow but I bet these are short-term.
3. The leasing volume speaks for itself
Considering the fact that the situation is terrible, the leasing volumes show a dead-decline.
4. Investment planning
Just in case, if you are planning for an investment, keep the pandemic situation in mind. Also, the report says that the investments in the commercial properties have been slowed down. There is an increased concern for the revaluation of the property.
Or, if you want to consult a Property Management Consultant, do it as soon as possible. Because you would not want the investments to delay at this time, do you?
5. Support of the tenants
What is inevitable other than the support of the tenants this time of the pandemic? As long as you get supportive tenants, you are lucky.
6. Cutting out operational costs
As a commercial property landlord, you will be expected to maintain social distancing norms and 90% of the commercial areas are closed, so you would want to cut out on the operational costs because if you are open, you need to maintain all these on a higher focus like sanitation, cleaning, thermal checking, and security.
7. E-commerce is pushing its way through the door
Don’t tell us that you didn’t notice the sudden rise in the eCommerce sectors. They are just experiencing a surge in increased demand.
8. Rent Adjusting and accepting
Keeping the situation in mind, if a renter asks you to waive off their rent for a while or reduce the rent amount, plan a way to help your renter out. As a Commercial Property Owner, your main concern should not evict the renter out. Do you think you can use a Property Management Application to see how the application helps your property?
9. Plans for disaster recovery
The worst is actually yet to come, so be prepared with your disaster recovery plans. The best way is to approach a Property Management Company for a disaster recovery plan, they are already dealing with so many properties. So, this would be taken care of by the Property Management Consultants.
10. Lease issues!
You might want to change something in the lease, the renters may not afford and some of the things could happen that is denied according to the lease agreements. But still, clearing the lease would help a renter so much and in turn, the relationship between the landlord and the tenant is going to get strong these toughest times.
Or just get on a call with the best Property Management Consultant in Bangalore and you are done!
These are the few of the concerns of commercial property owners during this market slowdown. If you ever face any problem in maintaining the property, the property management companies in Bangalore are just a call away!